XML 53 R43.htm IDEA: XBRL DOCUMENT v3.25.0.1

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2024

FAIR VALUE MEASUREMENTS

Summary of assets and liabilities measured at fair value on a recurring basis

​

​	​	​	​	​	​	​	​	​
​	​	Fair value measurement using:					​	​
​	​	Quoted prices in	​	Significant other	​	​	​	​
​	​	active markets for	​	observable	​	Unobservable	​	​
​	​	identical assets	​	inputs	​	inputs	​	Fair value at
​		(Level 1)		(Level 2)		(Level 3)		September 30, 2023
​		RMB		RMB		RMB		RMB
Convertible Notes	​	​	​	​	​	​	​	​
- 2026 Convertible Notes		3,381,686		—		—		3,381,686
- 2027 Convertible Notes		—		—		1,421,600		1,421,600
Liabilities		3,381,686		—		1,421,600		4,803,286

​

​	​	​	​	​	​	​	​	​
​	​	Fair value measurement using:					​	​
​	​	Quoted prices in	​	Significant other	​	​	​	​
​	​	active markets for	​	observable	​	Unobservable	​	​
​	​	identical assets	​	inputs	​	inputs	​	Fair value at
​		(Level 1)		(Level 2)		(Level 3)		September 30, 2024
​		RMB		RMB		RMB		RMB
Short-term investments:	​	​	​	​	​	​	​	​
- Wealth management product		—		15,879		—		15,879
Available-for-sale debt securities		—		—		42,689		42,689
Assets		—		15,879		42,689		58,568
​	​	​	​	​	​	​	​	​
Convertible Notes
- 2027 Convertible Notes		—		—		1,793,894		1,793,894
Liabilities		—		—		1,793,894		1,793,894

Summary of fair value of convertible notes measured using key assumptions

​

​	​	​	​	​	​
​	​	As of September 30	​	As of September 30
​		2023		2024
Volatility		90.48	%	80.00	%
Discount rate		15.78	%	13.34	%
Risk-free interest rate		4.70	%	3.63	%

Summary of reconciliation of all liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3)

​

​	​	​
​		2027 Convertible Notes
​		RMB
Fair value at August 20, 2024		1,683,270
Changes in fair value through the earnings		135,075
Due to instrument-specific credit changes in other comprehensive income		7,109
Foreign currency translation adjustiment		(31,560)
Fair value at September 30, 2024		1,793,894

​

​	​	​
​		Derivative liability
​		RMB
Fair value at December 31, 2023		188,706
Changes in fair value		(132,538)
Foreign currency translation adjustiment		892
Fair value immediately prior to the extinguishment		57,060

​

X

- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration